Rather than
easing, expansionary monetary policies are actually accelerating worldwide. This
is destroying the value of money; leaving GLD as the only dependable
store of wealth in the long term.
Analysts in
Commerzbank, Germany, see gold becoming stronger in the medium to long term as
a result of extension of the ECB easing program. The same analysis report
indicates that India is experiencing very high GLD demand levels.
Renowned
gold analyst Julian Phillips, on Mineweb, said that many people throughout the
world will run to buy gold in the long term for a number of fundamental reasons
including the fact that is worth more money during bad economic times. He added
that GLD is always liquid
even in the bad times. It is also easily exchangeable throughout the world
unlike other products.
In his
analysis, Julian Phillips quotes Rand "Whenever destroyers appear among
men, they start by destroying money, for money is men's protection and the base
of a moral existence. Destroyers seize gold and leave to its owners a
counterfeit pile of paper. This kills all objective standards and delivers men
into the arbitrary power of an arbitrary setter of values".
He concludes
that he who ignores history is doomed to repeat it.
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